1/ Now I have you in my clutches, @naval, let's tango! You brought up a subject worth debating and considering in some depth, and certainly without any animosity (I'm sorry if it feels like you've been bombarded with negativity on this).https://twitter.com/naval/status/1019766115398893568 …
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4/ People who get paid by protocol based incentives are not necessarily HODLers - very few are. Those who are paid crypto to keep the lights on are more likely to sell to pay the bills. HODLing requires *ideological conviction*:https://twitter.com/real_vijay/status/942264914453786624 …
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5/ The people who have conviction (which requires a deep understanding of the protocol) are the very best kind of devs to have when you have them. This kind of developer is motivated by a stronger incentive: the desire to change the world for ideological reasons.
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6/ My experience as an early engineer at Google also taught me that one good developer can be more productive than 10 or even 100 average developers. And when it comes to cryptographic protocol development, I dare say it's more like 1000x.
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7/ Would you rather one Greg Maxwell/
@pwuille or 1000 Javascript coders? The latter, in my opinion, are as likely to produce solid protocol code as a 1000 monkeys are to produce Hamlet.এই থ্রেডটি দেখান -
8/ Let's not, however, minimize the point you are making: paying people to work on a protocol can help the development of that protocol (people do need to eat). But does that need to be baked into the protocol? I think not.
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9/ An alternative model is patronage, and it's certainly alive and well in the Bitcoin community.
@ChaincodeLabs is an example of this: You have owners with strong ideological conviction with the means to fund development and to be discriminating in who they hire.এই থ্রেডটি দেখান -
10/ Finally, the baking of incentives into the protocol sullies the protocol and muddies the ideological waters. What are we here for? To change the world, or to make some, e.g., some Ethereum foundation members rich?
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11/ The purity of the Bitcoin protocol is what makes it a banner that millions can (and will) rally too. The purity is also what makes so many passionate about defending it in the face of perceived threats (as I imagine you are now aware of :)
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